Bose Professional to Expand with New Investor, Transom
Bose expands as a newly independent business with Transom Capital Group as its investor
Bose Corporation, a US-based multinational company and global leader in audio systems,
announced its
expansion as an independent business with new investor, Transom Capital Group ("Transom"), a
leading
operations-focused middle market private equity firm. With this deal, Transom will assume ownership
of the Bose Professional commercial installation and conferencing businesses. Bose will
retain its
portable PA systems as part of its core consumer product business.
For more than 50 years, Bose Professional has developed audio systems that are easy to design,
install and operate for performance, commercial and conferencing applications, and has worked with
AV integrators, system designers, installers and consultants to deliver these unforgettable audio
experiences. Now, its systems can be heard worldwide - in workplaces, houses of worship,
universities, restaurants, retail stores, hotels, performing arts centers, stadiums, and more.
"We're proud of what Bose Professional has accomplished - its legacy in the professional AV market
and the diverse list of amazing installations it has completed all over the globe," said Lila
Snyder, CEO of Bose Corporation. "The sale to Transom will provide Bose Professional the
additional
attention it needs to support the professional audio customer, and to continue to develop products
and technologies that stand out in the industry. It will also allow Bose to focus more deeply on our
core business - creating amazing audio experiences for on-the-go, at home and in the car."
"Bose Professional's tenure in the professional audio business, its standout product portfolio and
customers, as well as its team dedicated to researching, engineering and delivering new and
innovative products, made it a compelling business for us to bring into our portfolio," said Russ
Roenick, Founder and Managing Partner at Transom. "We are working closely with Bose to
ensure
business continuity for Bose Professional going forward, and we look forward to continued success
for the business as an independent company."
"We're excited about the new opportunities this will enable us to explore," said Michael
Bennett,
CEO of Bose Professional. "Our customers are the key reason we develop systems that are easy to
design, easy to install and easy to operate. As the pro-AV industry continues to evolve, our focus
is on ways to help our customers be more successful and clear the path to great sound." Progress
Partners acted as Bose's exclusive financial advisor in connection with the sale. Additional
information, including financial and other terms of the transaction, will remain confidential.
Progress Partners acted as Bose's exclusive financial advisor in connection with the sale.
Additional information, including financial and other terms of the transaction, will remain
confidential.
Bose Professional Appointed Mark Ureda as Board of Director to Create Incredible Audio
Solutions
As a newly independent business, made possible by its new investor Transom Capital Group,
Bose
Professional will deepen its efforts and focus on technologies and solutions that enable their
customers to create incredible audio solutions faster and more efficiently.
As a sign of this new focus and attention, Bose Professional announced the appointment of Mark
Ureda
to the company's Board of Directors. Ureda's nearly four decades of experience across a variety of
strategic leadership roles include Senior Vice President of Harman International, Vice President of
JBL, and Vice President of Corporate Strategy and Technology at Northrup Grumman. As business
advisor, Ureda will enrich the already extensive professional audio experience currently seen in
Bose Professional's leadership team.
"For the last five decades Bose Professional has developed innovative solutions and partnered with
system integrators to create incredible pro audio experiences," shared Michael Bennett, Chief
Executive Officer of Bose Professional. "The AV industry continues to be poised for growth and
opportunity, and we're excited to expand our role as we respond to changing customer needs and
industry trends faster."
"Given Bose Professional's pedigree and expertise in professional audio, coupled with its talent
across the disciplines of the business, we're excited to provide the additional support needed for
the next level of growth," said Transom Capital Group's Founder and Managing Partner, Russ Roenick.
"We look forward to continued success for the business as an independent company."